Answer:
Explanation:
If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is: Price elastic.
The strategy by the company is known as outsourcing.
<h3>What is outsourcing?</h3>
In Business, outsourcing means the company has hired or recruited another firm to perform a certain function required to complete the product. It may involve, manufacturing, HR services, marketing, embroidery, etc.
In the above scenario, a certain function required to complete the product is done by another company which is the process of outsourcing.
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The Delphi technique (Delphi method) was developed by RAND in 1950. It's goal was to forecast the impact of technology on warfare. Now it is used as a method of group decision-making and forecasting with help from judgments of experts.
During the interview the local business said that one of his biggest challenges is to motivate his employees. Applying the Delphi method to this problem, would be to ask motivation experts to explain the problem in details and to find solution. First every of the experts will suggest individual solution of the problem. Next they all together will coordinate and combine their ideas and give one solution. The Delphi method is very powerful.
Answer:
A. $192,000
Explanation:
The computation of the labor related overhead cost is shown below:
= (Labor related overhead cost) ÷ (Total direct labor hours) × direct labor hours of X
= ($480,000) ÷ (16,000 hours + 24,000 hours) × 16,000 hours
= $192,000
hence, the correct option is A.
Answer and Explanation:
The computation is shown below:
1.
<u>Particulars Units Unit Cost Dollars
</u>
Beg. Inv. 84 $3 $252
Apr-02 75 $4 $300
Apr-14 66 $7 $462
Apr-23 52 $8 $416
Total 277 $1,430
Average cost of one hat is
= Total cost of purchases ÷ Units purchased
= $1,430 ÷ 277 units
= $5.16
2.
Ending Inventory in Units = Units purchased - Units sold
= 277 units - 142 units
= 135 units
Now
Value of Ending Inventory = Units in Ending Inventory × Average cost per unit
= 135 units × $5.16
= $696.60
= $697
3
Gross Margin = Units sold × (Selling Price - Cost of goods sold)
= 142 units × ($24 - $5.16)
= $2,675.28
= $2,675